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Economic Order Quantity
(redirected from Economic Order Quantity Model)

   Also found in: Dictionary/thesaurus, Encyclopedia, Wikipedia 0.01 sec.
Economic order quantity (EOQ)
The order quantity that minimizes total inventory costs.

Economic Order Quantity
The number of orders a brokerage receives and must fill that minimizes its obligation to keep inventory. The economic order quantity reduces the brokerage's costs to the least possible level.


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The basic Economic Order Quantity Model (EOQ) will determine the production set up costs for each product model.
Yang, "An economic order quantity model for deteriorating items with partially permissible delay in payments linked to order quantity [J]," European Journal of Operational Research, 2008.
Goswami and KS, Chaudhuri, An economic order quantity model for items with two level of storage for a linear trend in demand, Journal of Operational Research Society 43 (1992), 157-167.
 
 
 
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